Is a polygon a Layer 2?

Could you please clarify for me if a Polygon is indeed considered a Layer 2 solution in the context of blockchain technology? I'm particularly interested in understanding the distinction between Layer 1 and Layer 2 solutions, and how polygons fit into this framework. Could you elaborate on the benefits and limitations of using polygons as a Layer 2, and how it contributes to scalability and transaction speed within the blockchain ecosystem?